Questions - selects strategies to achieve these goals and...

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Questions 1. A __sales forecast__ shows potential sales for the industry and a company's expected share of such sales. 2. __ Operating budgets __ are used as the basis for the preparation of the budgeted income statement. 3. The _ Master budget.__ is a set of interrelated budgets that constitutes a plan of action for a specified time period. 4. _ Long-range planning _ identifies long-term goals,
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Unformatted text preview: selects strategies to achieve these goals, and develops policies and plans to implement the strategies. 5. Lower-level managers are more likely to perceive results as fair and achievable under a _ Participative budget _ approach. 6. _ Financial budgets _ focus primarily on the cash resources needed to fund expected operations and planned capital expenditures....
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